SCS Capital Management LLC Purchases 18,601 Shares of iShares Gold Trust $IAU

SCS Capital Management LLC lifted its position in iShares Gold Trust (NYSEARCA:IAU) by 217.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,159 shares of the exchange traded fund’s stock after buying an additional 18,601 shares during the period. SCS Capital Management LLC’s holdings in iShares Gold Trust were worth $2,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of iShares Gold Trust by 1.5% in the third quarter. Bank of America Corp DE now owns 30,799,504 shares of the exchange traded fund’s stock worth $2,241,280,000 after buying an additional 456,140 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of iShares Gold Trust by 47.7% in the third quarter. Envestnet Asset Management Inc. now owns 20,520,705 shares of the exchange traded fund’s stock worth $1,493,292,000 after buying an additional 6,623,876 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of iShares Gold Trust by 20.6% in the third quarter. JPMorgan Chase & Co. now owns 13,165,231 shares of the exchange traded fund’s stock worth $958,034,000 after buying an additional 2,245,617 shares in the last quarter. UBS Group AG lifted its stake in shares of iShares Gold Trust by 6.5% in the third quarter. UBS Group AG now owns 9,148,055 shares of the exchange traded fund’s stock worth $665,704,000 after buying an additional 561,489 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of iShares Gold Trust by 2.3% in the second quarter. Ameriprise Financial Inc. now owns 6,616,480 shares of the exchange traded fund’s stock worth $412,563,000 after buying an additional 148,881 shares in the last quarter. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust News Summary

Here are the key news stories impacting iShares Gold Trust this week:

• Negative Sentiment: Spot gold slipped after the U.S. manufacturing PMI rose to 54 in May, reinforcing the view that the economy remains resilient and reducing expectations for near-term Fed rate cuts. Spot gold trades near $4,460/oz after ISM Manufacturing PMI rises to 54
• Negative Sentiment: Rising Treasury yields and a stronger U.S. dollar weighed on precious metals, making gold less attractive to investors in the near term. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats Amid Rising Treasury Yields
• Negative Sentiment: Reports that Iran-related geopolitical tensions were easing intermittently and that crude oil was jumping shifted some demand away from gold’s safe-haven trade. Gold falls as oil jumps on U.S.-Iran deadlock – Kitco PM Report
• Neutral Sentiment: Some commentary remains constructive on gold’s longer-term outlook because inflation, debt, and policy uncertainty could still support demand over time. Fed trapped between inflation and debt crisis, and gold wins either way – Sprott’s McIntyre

iShares Gold Trust Stock Down 1.4%

Shares of iShares Gold Trust stock opened at $84.27 on Tuesday. The company has a market cap of $71.74 billion, a price-to-earnings ratio of 5.53 and a beta of 0.16. The company’s 50 day moving average is $87.07 and its 200 day moving average is $87.43. iShares Gold Trust has a twelve month low of $61.37 and a twelve month high of $104.40.

About iShares Gold Trust

iShares Gold Trust (the Trust) is to own gold transferred to the Trust in exchange for shares issued by the Trust (Shares). Each Share represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist of gold held by the Trust’s custodian on behalf of the Trust. The sponsor of the Trust is iShares Delaware Trust Sponsor LLC (the Sponsor), which is an indirect subsidiary of BlackRock, Inc The trustee of the Trust is The Bank of New York Mellon (the Trustee) and the custodian of the Trust is JPMorgan Chase Bank N.A., London branch (the Custodian).